FINRA Fines Stifel, Nicolaus & Company $200,000 and Kurt August LaLomia $15,000

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FINRA Fines Stifel, Nicolaus & Company $200,000 and Kurt August LaLomia $15,000

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Kurt August LaLomia and his brokerage firm, Stifel, Nicolaus & Company. The arbitration specialists at Furgison Law Group are investigating claims involving allegations of breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

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Furgison Law Group filed a FINRA arbitration claim against National Planning Corporation on behalf of customers of Scott Melbrod

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Furgison Law Group filed a FINRA arbitration claim against National Planning Corporation on behalf of customers of Scott Melbrod

The securities fraud lawyers at Furgison Law Group filed an arbitration claim against National Planning Corporation ("NPC") related to investments recommended by Scott Melbrod (CRD#4614202). The complaints against Mr. Melbrod and his firm, National Planning Corporation, related to the sale of Tenants-In-Common ("TIC") real estate investments, 1031 Exchange transactions and other real estate investments.

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Furgison Law Group filed a FINRA arbitration claim against National Planning Corporation on behalf of customers of George Melbrod, Jr.

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Furgison Law Group filed a FINRA arbitration claim against National Planning Corporation on behalf of customers of George Melbrod, Jr.

The securities fraud lawyers at Furgison Law Group filed an arbitration claim against National Planning Corporation ("NPC") related to investments recommended by George Melbrod, Jr. (CRD#723108). The complaints against Mr. Melbrod and his firm, National Planning Corporation, related to the sale of Tenants-In-Common ("TIC") real estate investments, 1031 Exchange transactions and other real estate investments. 

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Furgison Law Group has filed a FINRA arbitration claim against National Planning Corporation on behalf of customers of Robert "Rusty" Tweed

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Furgison Law Group has filed a FINRA arbitration claim against National Planning Corporation on behalf of customers of Robert "Rusty" Tweed

The securities fraud lawyers at Furgison Law Group have recently filed a claim against National Planning Corporation ("NPC") related to investments recommended by Robert Russel "Rusty" Tweed (CRD#2339324). Our firm is also currently investigating other claims against Mr. Tweed and his former firm, National Planning Corporation related to the sale of Tenants-In-Common ("TIC") real estate investments, 1031 Exchange transactions and other real estate investments.

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FINRA Sanctions UBS Puerto Rico $18.5 Million for Supervisory Failures Regarding Sales of Puerto Rican Closed-End Funds and Related Loans

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FINRA Sanctions UBS Puerto Rico $18.5 Million for Supervisory Failures Regarding Sales of Puerto Rican Closed-End Funds and Related Loans

FINRA fined UBS Financial Services Incorporated of Puerto Rico (UBS PR) $7.5 million for supervisory failures related to the suitability of transactions in Puerto Rican closed-end fund (CEF) shares and ordered UBS PR to pay approximately $11 million in restitution to 165 customers who were forced to realize losses on their CEF positions.

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FINRA Sanctions Santander Securities LLC $6.4 Million for Supervisory Failures Related to Sales of Puerto Rican Bonds

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FINRA Sanctions Santander Securities LLC $6.4 Million for Supervisory Failures Related to Sales of Puerto Rican Bonds

FINRA ordered Santander Securities LLC to pay approximately $4.3 million in restitution to certain customers who were solicited to purchase Puerto Rican Municipal Bonds (PRMBs). Additionally, the firm will pay restitution of $121,000 and make offers of rescission to buy back the securities sold to certain customers impacted by the firm's failure to supervise employee trading. FINRA also censured and fined Santander $2 million for supervisory failures.

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FINRA Sanctions 12 Firms a Total of $6.7 Million for Failing to Apply Sales Charge Discounts to Customers' Purchases of UITs

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FINRA Sanctions 12 Firms a Total of $6.7 Million for Failing to Apply Sales Charge Discounts to Customers' Purchases of UITs

FINRA ordered 12 firms to pay restitution totaling more than $4 million and fines totaling more than $2.6 million for failing to apply available sales charge discounts to customers' purchases of Unit Investment Trusts (UITs), and related supervisory failures.

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FINRA Orders Wells Fargo, Raymond James, and LPL Financial to Pay More Than $30 Million in Restitution to Retirement Accounts and Charities Overcharged for Mutual Funds

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FINRA Orders Wells Fargo, Raymond James, and LPL Financial to Pay More Than $30 Million in Restitution to Retirement Accounts and Charities Overcharged for Mutual Funds

FINRA has ordered Wells Fargo Advisors, LLC, Wells Fargo Advisors Financial Network, LLC, Raymond James & Associates, Inc., Raymond James Financial Services, Inc. and LPL Financial LLC to pay more than $30 million in restitution, including interest, to affected customers for failing to waive mutual fund sales charges for certain charitable and retirement accounts.

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FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

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FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

FINRA order Edward Jones, Stifel Nicolaus, Janney Montgomery, AXA and Stephens to pay $18 million in restitution for overcharging customers and failing to adequately supervise the sale of mutual funds that offered sales charge waivers. 

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FINRA Fines Cantor Fitzgerald & Co. $7.3 Million for Selling Billions of Unregistered Microcap Shares

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FINRA Fines Cantor Fitzgerald & Co. $7.3 Million for Selling Billions of Unregistered Microcap Shares

FINRA has fined Cantor Fitzgerald & Co. $6 million and ordered disgorgement of nearly $1.3 million in commissions, plus interest, for selling billions of unregistered microcap shares in violation of federal law and failing to have adequate supervisory or anti-money laundering (AML) programs tailored to detect "red flags".

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